The Securities Commission says the individuals fined were Serba Dinamik CEO and group managing director Datuk Mohd Abdul Karim Abdullah, executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi, and accounts and finance vice-president Muhammad Hafiz Othman.
If convicted, Muhammad Hafiz faces imprisonment not exceeding 10 years and shall also be liable to a fine not exceeding RM1 million.
The SC has applied for a warrant of arrest for Abdul Karim.